Tuesday, August 19, 2008

Oil Majors: Losing Control, Decreasing Output

In today's NYT, a worrisome indicator: output by the largest western oil co's had decline 5 straight quarters, due to what some executives are calling "geopolitical peak oil". Companies like ExxonMobil have the technology and financial resources to extract lots more oil, but the increasing nationalization of the world's most promising fields is keeping the real experts on the sidelines. And it looks like this is the way it's going to be going forward. More reason DOD needs to burn the midnight oil (whale oil?) to find alternative means to power and transport its vehicles.

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About

This blog tracks the energy challenges facing the US Department of Defense in the early 21st century. Drawing from the best thinking inside and outside the Pentagon, it examines problems and identifies possible short, medium and long term solutions in technology and policy.

Andy Bochman runs the DOD Energy Blog and can be reached at andybochman at gmail dot com